Dewhurst: outstanding results
Dewhurst, which recently celebrated its 90th birthday, issued what surely should be considered an outstanding set of full year results for the year ending 30th September 2009.
The group is an independent supplier of quality components to the lift, keypad and rail industries. The company was founded in 1919 and the Dewhurst Group now employs over 300 people in locations around the world. Sales were down just 1.4% to £35.8m and profits before tax were down 5.4% at £4.4m. The figures were the second best in the company’s history and, in this writer’s opinion, an outstanding performance in the circumstances. Operating profit rose 3.7% to £4.5m reflecting the increase in margins to 12.6% (2008: 12.0%) and setting a new group record. The second half was the opposite…